Tomco RNS13 Jan 2022 08:49
In the first half of 2021, Greenfield operated Petroteq Energy Inc's existing oil sands pilot plant at Asphalt Ridge, Utah (the "POSP") in order to demonstrate the feasibility of mining shallow tar sands using conventional open pits and applying solvents to extract, process, and sell heavy oil. Having demonstrated pilot viability, Greenfield has subsequently begun to negotiate marketing contracts for refining and marketing asphalt, heavy oil and diesel. The potential future mining operations and extraction processes at TSHII are also intended to produce various types of sand as byproducts, and Greenfield has identified markets for the industrial, construction, fracture stimulation ("frac") and silica sands.